In the competitive market the market demand is qd48

Economics

1) In a competitive market, the market demand is Qd=48 - 5p and the market supply is Qs = 7P. The equilibrium price is

4
8
9.6
it elastic

2) In a competitive market, the market demand is Qd=480 - 5p is the market price is 52, what is the consumer surplus?

220
96
4840
9680

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9292199

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